if your spouse's assets must go into a pool that is split among heirs, you won't be able to sell the car to a child for $1 or to yourself. Your spouse might also have stipulated in his or her will who gets the car.
In some cases, the car might bypass probate and transfer directly to a living heir by operation of law, and that individual would have the right to sell it. New York law automatically gives the vehicle to the surviving spouse if it's worth $25,000 or less, or to the deceased's minor...
Former spouses that fail to divide their property at the time of the divorce create problems that will surface later. Years pass, the former spouses remarry new spouses, and life goes on. The spouses assume that the property has been divided. Then one of the spouses decides to sell or ref...
Divorce or Separation: When a child’s parents divorce or separate, grandparents may step in to provide stability and maintain family connections. Death of a Parent: The surviving parent may limit or cut off contact with the deceased parent’s extended family. Child Welfare Concerns: If there ...
He is within Stoic bounds in doing his best to sell as many cars as possible to potential customers, because that is what the role of a car salesman is. But consider a scenario where he is actually aware that a given used car has defects that he has been asked by his employer not ...
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In the absence of a will, the spouse of a deceased individual will get half of the inheritance, whereas the other half will be equally given to their children. If the deceased individual has no children, his inheritance will be given to his parents or split between the deceased’s siblings...
operating agreement can define what happens to a member's interest upon death. Common provisions include the remaining members purchasing the interest, allowing certain people (a spouse or child) to acquire the interest, or giving remaining members the right of first refusal before transfer to an...
An example of when a marital trust might be used is when a couple has children from a previous marriage and wants to pass allpropertyto the surviving spouse upon death, but also provide for their individual children. Should the surviving spouse remarry, a deceased spouse's assets will then ...
heirs of the deceased, including surviving spouses, children, and parents. Theprobate courtwill assess what assets need to be distributed among the legal heirs and how to distribute them. The probate laws in most states divide property among the surviving spouse and children of the deceased. ...